The Electricity Authority of Cyprus (EAC) will provide in a week, information about its developing program and the measures to be implemented for its costs reduction to the Cyprus Energy Regulatory Authority (CERA) and to the Ministry of Commerce, Industry and Tourism.
This was said after a meeting, which Minister of Commerce Antonis Paschalides had with the Chairman of the Board of Directors of EAC Charis Thrasou and the President of CERA Kostas Ioannou.
Paschalides said the government supports EAC in many ways and believes in it, stressing that the issue of price increase of electricity is a decision matter of the President of CERA.
Thrasou said President of CERA will evaluate the situation and will take decisions about the price of electricity which EAC will respect.
Minister of Commerce said a commission is already set to examine the issue technocratic ally. ”Information will be presented by EAC during the week and these will be examined, a study will be carried out, and very soon, decisions will be made by CERA”, he added.
Financial Mirror, September 21, 2009